VC Fund Investments
Celebrity engagement platform Tring raises $5-M led by Kalaari Capital
Tring, a Mumbai-based celebrity engagement platform, has raised USD 5 million in a Pre-Series A round led by Kalaari Capital, which invested USD 2 million. The round also saw participation from Blume Founders Fund, Redbrook Pte (Singapore), and Sujeet Kumar (Udaan.com). Tring plans to use the new funds for improving the product and introduce other forms of celebrity-fan engagement, and further monetise its customer base of over 200,000 customers. Tring was launched in December 2019 by Akshay Saini, Rahul Saini, and Pranav Chabhadia with the aim of bridging the gap between fans and celebrities. The company claims to have over a million people visiting the website to interact with celebrities, and is hoping to notch up 100,000+ paid transactions monthly.
From the Venture Intelligence PE-VC Deal Database: In Oct-20, ALTBalaji, a wholly-owned subsidiary of Balaji Telefilms Limited, had acquired a 17.5 percent stake in Tring at a valuation of INR 100 crore.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
